Government work report: support the consumption of new energy vehicles, driven by the new energy vehicle market
In February, the sales volume of new energy vehicle enterprises decreased month on month to varying degrees, mainly due to the Spring Festival holiday and the natural day in February is only 28 days. The effective production and delivery time of vehicle enterprises is greatly shortened. Therefore, the data of that month can not fully reflect the real sales situation, and the sporadic epidemic in many parts of the country also affects the automobile consumption. The sales volume of new energy vehicles in Byd Company Limited(002594) february was 87473, with a year-on-year increase of 764% and a month on month decrease of only 5.9%, far exceeding the market average level, showing the competitiveness of Byd Company Limited(002594) pure electric and hybrid models, especially their coping power under the cost pressure of the industrial chain. In the government work report, it is proposed to “continue to support the consumption of new energy vehicles”, which shows the determination to continue to develop new energy vehicles and the direction of new energy vehicle consumption. The sales volume and penetration rate of new energy vehicles are gradually rising. The constantly abundant new energy models are gradually meeting the needs of consumers. The new energy vehicle market has gradually changed from subsidy driven to market driven.
Government work report: ensure the supply of raw materials and parts and maintain the safety of the industrial chain
While the demand for new energy vehicles continues to rise, the tight supply and demand of lithium in the upstream has led to high lithium prices, positive conduction and pressure on battery factories and car factories. On the one hand, in order to ensure the supply and tilt resources, new energy vehicles and battery factories and car factories with cost advantages will occupy market share and advantages. Market differentiation rather than restraining demand, the profits of the industrial chain will move up; On the other hand, the continuous high lithium price supported by supply and demand will also guide the increase of the development of upstream lithium resources and ensure the healthy development of the industry. The government work report also proposes to “strengthen the supply guarantee of raw materials and key parts, implement the chain guarantee and chain stabilization project of leading enterprises, and maintain the safety and stability of the industrial chain supply chain”. For key raw materials and parts, ensuring the supply and supply chain safety can ensure the healthy and sustainable development of the industry and strengthen the industrial competitiveness.
Government work report: promoting the energy revolution
The government work report proposed to “promote the energy revolution” and “promote the low-carbon transformation of energy”, affirmed the general trend of new energy development while ensuring energy security, “promote the planning and construction of large-scale wind and solar power bases and their supporting regulatory power sources, and improve the consumption capacity of power grids for renewable energy power generation”, and emphasized the matching and consumption of new energy. With policy support With technological progress and lower costs in all links, energy storage is expected to accelerate development.
Investment suggestions: three main lines: first, capacity release, cost pressure relief and gross profit recovery. Battery plants: Contemporary Amperex Technology Co.Limited(300750) , Eve Energy Co.Ltd(300014) , Gotion High-Tech Co.Ltd(002074) , Farasis Energy (Gan Zhou) Co.Ltd(688567) , etc; 2. Lithium resource companies with high lithium price supported by supply and demand and expected to realize excess profits: Keda Industrial Group Co.Ltd(600499) , Youngy Co.Ltd(002192) , Chengxin Lithium Group Co.Ltd(002240) , Tianqi Lithium Corporation(002466) , etc; Three mid stream material link companies that have clear patterns, clear advantages, and a clear, dominant, and still tight supply and demand: the mid stream material link companies that have a clear pattern, clear advantage, and obvious middle stream material link companies that have a clear pattern, clear advantage, and clear middle stream material link companies: the ‘ Hongda Xingye Co.Ltd(002002) Yunnan Energy New Material Co.Ltd(002812) \\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\, Zhejiang Huayou Cobalt Co.Ltd(603799) , etc.
Risk warning: the development of new energy vehicles is not as expected; Disruptive breakthroughs in related technologies; Downstream demand is lower than expected; Product prices fell more than expected; Price fluctuation of raw materials. It is recommended to pay attention to the company’s profit forecast and rating:
